No Worries Powell, Mega-Firm Rise, Big Government Rerun: Eco Day

(Bloomberg) -- Welcome to Thursday, Asia. Here’s the latest news and analysis from Bloomberg Economics to help you start the day:

• Jerome Powell had a ready answer to counter criticism that the Fed is running risks with inflation, as he signaled it will maintain aggressive support as the U.S. recovery gathers speed
• The world’s biggest firms are doing great -- but that might not be such good news for everybody else, says Justin Jimenez
• Big government is back. Four decades after Ronald Reagan’s philosophy of lowering taxes and shrinking government took hold Joe Biden is turning U.S. economic policy in the opposite direction
• Tickets for everything from domestic flights to theme parks are rapidly selling out in China ahead of its Labor Day holiday
• Australian Treasurer Josh Frydenberg said the jobless rate will “need to have a four in front of it” to generate faster wage growth and higher inflation, signaling a willingness to keep the fiscal spigot open
• Did China lowball first-quarter GDP? Chang Shu looks at the evidence
• Here’s why the New Zealand central bank’s policy committee has never needed to vote
• Cut, Hike, Hold -- Bloomberg Economics previews central bank meetings
• One large option bet built up over the past week is aiming for a surprise at the Kansas City Fed’s annual symposium in Jackson Hole
• The Biden administration is in talks with the EU to avoid an escalation in a dispute over tariffs on European metals exports
• MNC Group will invest in entertainment venues and events like a music festival modeled after Coachella to lure in young Indonesians

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